In a press release issued September 24, PhaseBio Pharmaceuticals Inc. (PHAS:NASDAQ) reported the completion of its Phase 2a clinical trial of PB2452, stating, "PB2452 achieved immediate and sustained reversal of ticagrelor in older (ages 50-64) and elderly (ages 65-80) subjects on dual antiplatelet therapy of ticagrelor and low-dose aspirin. PB2452 was generally well tolerated, with only minor adverse events reported."
The biopharma company focuses on the development and commercialization of novel therapies to treat orphan diseases, with an initial focus on cardiopulmonary disorders. According to the chief medical officer, PB2452 may address a significant unmet need for patients by reversing the antiplatelet activity of ticagrelor in major bleeding and urgent surgery situations.
PhaseBio is also working on PB1046, which is being developed as a once-weekly novel treatment for pulmonary arterial hypertension. PB1046 is currently in a phase 2b trial.
Shares opened on Wednesday at $4.68, nearly 20% higher than the previous day's close of $3.91. As of the publishing of this article, shares reached as high as $5.24 during Wednesday trading—a 34% gain.[NLINSERT]
1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professional for medical advice.